Economics
(coming soon) Economics is a 'science' based on ... Supply and Demand (coming soon) Boom and Bust (see Economic Bubble) Cycles (see also Kondratiev Cycles) Inflation (Reddit thread) Recession (coming soon) Depression (ending soon) Great Depression - Dust Bowl - Wikipedia https://en.wikipedia.org/wiki/Dust_Bowl The Dust Bowl was a period of severe dust storms that greatly damaged the ecology and agriculture of the American and Canadian prairies during the 1930s; severe drought and a failure to apply dryland farming methods to prevent the aeolian processes (wind erosion) caused the phenomenon. Acceleration (coming soon) History Modern economic development began around 930 AD in Sung province of China|WilliamStickEvers://Jupiter-Saturn Synodic Cycle and the Kondratiev Wave>. there have been 18 K-Waves since, lasting about 60 years each on average (1080 years). We are approaching a new Jupiter-Saturn conjunction in Capricorn in 2020, which should set us on a new cycle of economic expansion. 10th Century China (coming soon) Mercantile Capitalism (coming soon) Ricardian economics |Wikipedia:/en/Ricardian economics> "Ricardian economics are the economic theories of David Ricardo, an English political economist born in 1772 who made a fortune as a stockbroker and loan broker. At the age of 27, he read An Inquiry into the Nature and Causes of Wealth of Nations by Adam Smith and was energized by the theories of economics. His main economic ideas are contained in On the Principles of Political Economy and Taxation (1817). This set out a series of theories which would later become theoretical underpinnings of both Marx's Das Kapital and Marshallian economics, including the theory of economic rent, the labour theory of value and above all the theory of comparative advantage. Ricardo wrote his first economic article ten years after reading Adam Smith and ultimately, the "bullion controversy" gave him fame in the economic community for his theory on inflation in 19th-century England. This theory became known as monetarism, the theory that excess currency leads to inflation.1 He also played a part in the emergence of classical economics,3 which meant he fought for free trade4 and free competition without government interference by enforcing laws or restrictions.2" Macroeconomics (coming soon) Criticism The Financial Modeller's Manifesto "In finance we study how to manage funds – from simple securities like dollars and yen, stocks and bonds to complex ones like futures and options, subprime CDOs and credit default swaps. We build financial models to estimate the fair value of securities, to estimate their risks and to show how those risks can be controlled. How can a model tell you the value of a security? And how did these models fail so badly in the case of the subprime CDO market? Physics, because of its astonishing success at predicting the future behavior of material objects from their present state, has inspired most financial modeling. Physicists study the world by repeating the same experiments over and over again to discover forces and their almost magical mathematical laws. Galileo dropped balls off the leaning tower, giant teams in Geneva collide protons on protons, over and over again. If a law is proposed and its predictions contradict experiments, it's back to the drawing board. The method works. The laws of atomic physics are accurate to more than ten decimal places. It's a different story with finance and economics, which are concerned with the mental world of monetary value. Financial theory has tried hard to emulate the style and elegance of physics in order to discover its own laws. But markets are made of people, who are influenced by events, by their ephemeral feelings about events and by their expectations of other people's feelings. The truth is that there are no fundamental laws in finance. And even if there were, there is no way to run repeatable experiments to verify them" Microeconomics (coming soon) Nanoeconomics (see Nanoeconomies) Nanoeconomics is the foundational theory that underpins a nanoeconomy. The concept that optimization of the labour potential of every member of an economic network naturally implies distribution of resources on the merit/difficulty of labour performed by the node. A proof-of-work economy, free from the unpredictability of modern capital, due to the fundamental reliance on '''un-automatible '''human behaviour. References Page List category = Economics Category:Economics Category:Finance Category:Capitalism Category:Social Science